# Indonesia's Stock Rally Might Stall This Week – Here's Why

The Jakarta Composite Index is sitting pretty at 8,420 points after a two-session winning streak that added ~60 points to the board. But Friday could be the party crasher.

**The Setup:**
Southeast Asian bourses are taking cues from Wall Street's Thursday meltdown – the Dow dropped 0.84%, Nasdaq tanked 2.15%, and S&P 500 fell 1.56%. The culprit? Mixed jobs data killed the Fed rate-cut narrative. While unemployment ticked up unexpectedly, September job growth *crushed* economist forecasts, signaling a hotter labor market than expected.

**The Damage:**
CME's FedWatch Tool now shows just 39.8% odds of a December rate cut (down from 98.8% a month ago). Interest rate expectations shifting = money rotating out of equities.

**JCI's Thursday Play:**
Telecoms led the charge (+0.94% for Indosat Ooredoo). Banks were split – Bank Mandiri pumped 1.86%, while BCA slipped 0.59%. Resources got hammered: Vale Indonesia (-2.06%), Semen Indonesia (-2.21%), United Tractors (-1.10%). The index closed at 8,419.92, up just 13.34 points or 0.13% on the day.

**Bottom Line:**
Asian markets are bracing for a softer open on Friday. Oil also pulled back (WTI crude -0.44% to $59.18) as geopolitical tensions ease. Expect choppy sideways action unless we get fresh catalysts.